UPDATE: Barclays Reinstates Parker-Hannifin (PH) at Overweight

(update comment)

Barclays analyst Julian Mitchell reinstates coverage on Parker-Hannifin (NYSE: PH) with a Overweight rating and a price target of $227.00.

The analyst comments "We are likely at the trough of the company’s organic sales downturn (we are now in the 3rd Q of its Downturn, which we assume lasts 6 quarters); as top-line trends start to recover following this trough, history suggests the stock should outperform. Historically, in the 12 months following the 3rd Q of its organic sales downturn, PH has outperformed the S&P by 21%."

For an analyst ratings summary and ratings history on Parker-Hannifin click here. For more ratings news on Parker-Hannifin click here.

Shares of Parker-Hannifin closed at $196.65 yesterday.

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